Video surveillance helps monitoring the activities and behavior of the area to protect and manage people or the area. It is often used for the purpose of controlling, managing, protecting, conducting, and influencing people within an organization or premise. Along with government and law enforcement bodies, which use video surveillance to maintain social control, these systems are largely deployed across different industrial verticals. Rapid development in the technology and rise in applications are driving the global video surveillance as a service market. VSaaS is a delivery model that provides cloud based services for surveillance and security management.
Segmentation in VSaaS Market
Global video surveillance as a service market is divided into different segments on the basis of the types of services, components, applications, and geography. Services in the industry include managed services, hosted services, and hybrid services. Components of video surveillance provided in the software as a service market include servers, cameras, video analytics, and storage space. Based on the types of applications, global VSaaS market is segmented into commercial, industrial, and infrastructure markets. These three segments cover major industries like BFSI, healthcare, restaurants, offices, retail, transportation, traffic on bridges, streets, and highways, stadiums, telecommunication channels, educational, religious, and governmental buildings, and so on.
Factors Driving Video Surveillance as a Service Industry
Video surveillance as a service is a major component of the global software as a service industry. Rising deployment of the SaaS services across different industrial verticals have created major developments across different industries spread across the world. Video surveillance as a service market is developing with the rapid rise in the adoption and advancing technology in the market. These advancements are mainly attributed to the increased security concerns across different industry verticals as well as day-to-day lives. Increasing security, management, property information, and management of the people is creating demand for the tools with advanced security access and better control. Rising threats for security concerns are also driving the industry.
Market Trends and Forecasting Reports
According to the market research reports, global video surveillance as a service market is expected to record strong growth across different geographic regions. These regions include North America, Europe, Asia, and rest of the world. Based on the latest trends and analysis of the industry segments, VSaaS market is expected to grow at a CAGR of over 31% from 2012 to 2017. During the forecasting period, the industry is projected to reach $2,390.9 million by 2017. Advancing deployment of storage clouds is driving the global market. Use of IP systems for video surveillance is expected to be the future of the video surveillance as a service industry. Growth in the end user applications is considered as a good sign for the industry.
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